Instinet Group Announces Sale Of Certain Assets And Release Of Obligations With Zone Trading Partners

Instinet Group Incorporated (NASDAQ: INGP) today announced that it sold to Zone Trading Partners the Gr8Trade and Infocenter technology, and agreed to the mutual release by Instinet Group, Zone and affiliated parties of obligations resulting from Instinet's acquisition of ProTrader in October 2001. As a result of this transaction, Instinet realized proceeds of $7.75 million. Instinet's Gr8Trade technology team will move to Zone after the Gr8Trade transition is completed in the fall of this year. Instinet had acquired ProTrader to provide advanced trading technologies and electronic brokerage services primarily to professional non-institutional traders, active fund managers, direct access brokers and hedge funds who used the Instinet trading platform.